Skip to content
Crypto Birb
Crypto Birb

Your Crypto & Blockchain Encyclopedia

  • HOME
  • Crypto News Live (English)
  • BLOG POST
  • BLOGS IN HINDI
  • Web Stories
  • Crypto Tools
  • Our Services
  • CONTACT US
Crypto Birb

Your Crypto & Blockchain Encyclopedia

CRYPTO NEWS
May 17, 2022May 17, 2022

Crypto News :-EY introduces supply chain tracking on Polygon Nightfall

Sharing is caring!

  • Facebook
  • Twitter
  • LinkedIn

Crypto News Today (17/05/2022)

EY is one of the four largest accountants, announced an online service for tracking supply chains named OpsChain Supply Chain Manager on Nightfall -which is an Layer 2 Ethereum blockchain co-developed in collaboration with Polygon.

The two companies have launched Nightfall’s beta version today, and also launched OpsChain Supply Chain Manager as one of the first apps to help businesses track their supply chains.

supply chain

The method OpsChain will function is by allowing companies to create fungible and intangible tokens (NFTs) that can be used on Nightfall. Instead of being cryptocurrencies the tokens will serve as the inventory and assets of companies which can be tracked by Nightfall. Nightfall blockchain. The transactions and data generated on behalf of OpsChain customers will become less expensive and quicker as they’re not happening on the primary Ethereum blockchain however, they’re over it, on a different layer.

OpsChain utilizes Nightfall’s zero-knowledge (ZK)-proofs, a method of verification that lets you speed up and reduce the cost of blockchain transactions and also ensures security. This means that the actual information about transactions is encrypted.

According to EY the company, the Nightfall-based OpsChain can be used as an instrument to assist companies manage and monitor their supply chains using the Nightfall blockchain.

“Managing complex operations across company boundaries is a significant step in the right direction. EY OpsChain Supply Chain Manager greatly expands the range of possible use cases for customers to think about,” said James Canterbury the chief and blockchain expert at EY.

Although experts have for a long time advocated the advantages of using blockchains for tracking supply chain however, the lack of privacy in transactions using blockchains has held back its widespread adoption. But, since OpsChain employs polygon nightfall’s ZK verification, EY says it’s going to help in protecting the privacy of sensitive information and therefore it is a good fit for the software used in the supply chain market.

Sharing is caring!

  • Facebook
  • Twitter
  • LinkedIn
CRYPTO NEWS

Post navigation

Previous post
Next post

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Latest Posts

  • 7 Best Ways to Earn Free Cryptocurrency in 2023
    CRYPTO NEWS Technology

    7 Best Ways to Earn Free Cryptocurrency in 2023

    March 19, 2023
  • Breaking News: RBI and UAE Central Bank Sign MoU to Revolutionize Financial Innovation(CDBC)
    Alert CRYPTO NEWS

    Breaking News: RBI and UAE Central Bank Sign MoU to Revolutionize Financial Innovation(CDBC)

    March 19, 2023
  • BlackRock explores tokenization of stocks
    CRYPTO NEWS

    BlackRock explores tokenization of stocks

    March 19, 2023
  • How Whales Move $1 Billion Worth of USDT Off Crypto Exchanges in Just Days
    Alert CRYPTO NEWS Why Crypto down today

    How Whales Move $1 Billion Worth of USDT Off Crypto Exchanges in Just Days

    March 16, 2023
  • We are thrilled to announce that Uniswap has expanded its exchange services to the Binance Smart Chain!
    CRYPTO NEWS Technology

    We are thrilled to announce that Uniswap has expanded its exchange services to the Binance Smart Chain!

    March 16, 2023
  • India Takes Firm Action Against Cryptocurrency Crimes Under PMLA Regulations
    CRYPTO NEWS

    India Takes Firm Action Against Cryptocurrency Crimes Under PMLA Regulations

    March 15, 2023
  • Evidence Suggests Bitcoin Still Moves Lower Before New Bull Market
    Bitcoin CRYPTO NEWS

    Evidence Suggests Bitcoin Still Moves Lower Before New Bull Market

    March 13, 2023
  • Bitcoin Surges Above $24.3K Following President Biden’s Speech | Why Bitcoin up today
    CRYPTO NEWS Why Crypto Up today

    Bitcoin Surges Above $24.3K Following President Biden’s Speech | Why Bitcoin up today

    March 13, 2023
  • Litecoin’s Halving: What Investors Need to Know in 2023
    Cryptocurrency Basics Litecoin

    Litecoin’s Halving: What Investors Need to Know in 2023

    March 13, 2023
  • U.S. Treasury’s Janet Yellen Works to Prevent SVB Collapse, Not Bailout
    CRYPTO NEWS Why Crypto down today

    U.S. Treasury’s Janet Yellen Works to Prevent SVB Collapse, Not Bailout

    March 12, 2023

Recent Comments

  1. Ahmed Uphaus on अल सल्वाडोर का सकल घरेलू उत्पाद अपने इतिहास में पहली बार दो अंकों से बढ़ गया – राष्ट्रपति बिटकॉइन से संबंधित प्रौद्योगिकियों पर अधिक ध्यान केंद्रित किया है
  2. Seymour Santini on Crypto Meaning in Hindi
  3. admin on The Metaverse is Expanding and Merging The Science Fiction Elements Into Virtual Reality!
  4. Abdul Razzaq on The Metaverse is Expanding and Merging The Science Fiction Elements Into Virtual Reality!
  5. Indu vashish on What is Play To Earn Game Token?

Archives

  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021

©2023 Crypto Birb | WordPress Theme by SuperbThemes